Global Pool Table Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Himanshu Patni
- February 28, 2022
- CONSUMER GOODS, NEWS
- Pool Table Market, Pool Table Market growth, Pool Table Market share, Pool Table Market size, Pool Table Market trends
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The global Pool Table market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 5% during the forecast period (2021-2027).
A surge in the end user’s disposable income, rapid urbanization, and surging end user’s interest in indoor games are some of the leading factors that are contributing to the growing market of pool table, globally. Rising purchasing power in developing countries such as Australia, EU, Mexico, Brazil, India, Thailand, and China are projected to allow consumers to spend more on spots tools and accessories including Pool Tables., As per OCED, the household spending in Canada, China, Denmark, European Union, France, and Germany reached to 1,021,459.5, 9,241,095.5, 139,229.8, 10,785,281.3, 1,561,879.9 and 2,288,541.1 US$ million, respectively.
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As per the World Bank, GDP per capita worldwide increased from US$ 10,249 in 2015 to US$11,433 in 2019. However, the GDP per capita witnessed a steep fall in 2020 due to the COVID-19 outbreak but it is expected that by the end of 2021 the global economy would get stabilized, and the market would be the same as it was earlier in 2019. Also, In 2021, Luxembourg has the fastest-growing economy with 5.86% and is the top country in GDP per capita (US$125,923) amongst the 10 richest economies.
A rise in GDP per capita signifies the increased standard of living. So, consumers in the developed and developing countries where per capita income is witnessing a rise can think of spending more on their leisure and luxury.
Data from UN’s Population Division shows that the world urban’s populations are growing fastest. In 1950, less than 20% of Africans and Asians lived in cities, that number had increased to 43% and 51%, respectively, by 2020 South America also increased urban populations majorly during the same period, arriving at an urban population share of more than 80%, higher than that of Europe. So, rapid urbanization is acting as a growth catalyst to the Pool Table market.
For a detailed analysis of the COVID-19 Impact on Pool Table browse through – https://univdatos.com/report/pool-table-market/
The demand for Pool Tables witnessed a rise during the COVID-19 pandemic. Nationwide lockdown, border closures, and the inability to travel overseas, consumers were left searching for other ways to spend their downtime. As per Cue World, the leading provider of pool tables, pool cues, and other accessories, reports that pool table and pool cue sales have skyrocketed since the beginning of the pandemic.
Based on the type, the market is fragmented into the American pool table and the British pool table. The American pool segment grabbed the major market share and dominated the market in 2020. The market of this segment would reach USD XX Mn by 2027. The key factors attributed to the growing market of this share are the benefits such as being bigger, with larger pockets, larger balls, and smooth due to nylon cloths.
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Based on the sales channel, the market is fragmented into supermarket/hypermarkets, Online Stores, Specialty Stores, and Others. The specialty stores segment grabbed XX% market share in 2020 and captured USD XX Mn the market. The advantages of specialty stores such as product demonstrations, a wide range of product categories, the assistance of skilled staff, and the immediate shipping of products are leading to the growing share. However, the online segment would witness exhibit growth in the coming years.
Additionally, the report provides detailed initiatives that are being taken in the field of Artificial Plants. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. North America region dominated the market and grabbed major market share in 2020. A rising number of sports enthusiasts in the countries such as the United States and Canada coupled with the rising participation of women’s is leading to the growth of the market. According to the Bureau of Labor Statistics, 19.3% of the U.S. population was engaged in sports and exercise each day in 2019.
Global Pool Table Market Segmentation
Market Insight, by Type
- American pool table
- British pool table
Market Insight, by Material
- Slate Pool Table
- Wooden Pool Table
- Metallic Pool Table
Market Insight, by End-Use
Market Insight, by Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
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